2655 Bush Street & Triton Pointe Under Construction
MILL VALLEY, CA – November 5, 2013 – (RealEstateRama) — Thompson | Dorfman Partners, LLC, a developer, owner and manager of multifamily real estate, announced today that Laurence Pelosi has joined TDP | Bay Area Partners, LLC, a Thompson | Dorfman company, as a partner. Pelosi will leverage his 15 years of experience to expand the firm’s capital market activities and new development opportunities in major markets located in high-growth, technology-driven markets in California. Pelosi joins new Partner Bruce Fairty at TDP | Bay Area Partners.
Pelosi is a co-founder and remains involved with Hatch Today, a co-working space environment in San Francisco, and McKinley Realty Partners, which is focused on acquiring single-family rental housing and land development. Pelosi was most recently a Director with RBC Capital Markets, where he was primarily responsible for public finance, infrastructure and public/private partnerships. Previously, he was an Executive Director at Morgan Stanley, where he focused on the firm’s residential investments throughout the western United States and was Director of Acquisitions at Lennar Communities. Pelosi began his career as a real estate and land use attorney in San Francisco.
“We are extremely pleased to welcome Laurence Pelosi to TDP | Bay Area Partners,” said Will Thompson, co-founder of Thompson | Dorfman Partners. “We know that his wealth of expertise and impressive knowledge of the capital markets and development will help us identify and create some key relationships. Our goal is to have an excess of $750 million worth of projects in the pipeline within the next three years. To accomplish this, it will be necessary for us to identify an entity level or programmatic capital partner that wants to invest in a seasoned group with an established track record that is presently engaged in some core Bay Area developments.”
Thompson | Dorfman Partners currently has more than 1,200 residential units in its growing pipeline or under construction in the Bay Area. Thompson | Dorfman Partners, in venture with Ares Capital, is currently under construction on a mixed-use 81-unit luxury apartment and ground floor retail development at 2655 Bush Street in San Francisco’s lower Pacific Heights neighborhood. TDP also broke ground on Triton Pointe in Foster City, a mixed-use development that includes 43,000 square feet of office space, 8,000 square feet of retail and a 166-unit apartment building. Triton Pointe is being developed in concert with CityView.
“I am excited to be joining TDP | Bay Area Partners, one of the last privately-owned and independent multi-family development firms doing business in the Bay Area,” Pelosi said. “My primary objective is to source capital to fund our $750 million development pipeline on the go forward.”
Pelosi added, “The Bay Area remains one of the best performing and most supply-constrained markets in the country and we’ve had a lot of interest from institutional and family office investors about investing with us.”
Pelosi currently serves on the board of Family House, a not-for-profit organization providing temporary housing to families of seriously ill children receiving treatment at the University of California, San Francisco Benioff Children’s Hospital. He is a member of Lambda Alpha and the State Bar of California, and received a Bachelor’s degree from the University of California at Berkeley and a Juris Doctorate from Georgetown University Law School.
“Thompson | Dorfman Partners has created a new platform, TDP | Bay Area Partners, that will be singularly focused on urban infill, mixed-use development,” said Thompson. “Thompson | Dorfman Partners will still do construction management, and acquire assets and provide development advisory services to public companies and private institutions with a focus on enhancing the value of under-utilized real estate assets.” The firm will also continue to be active in teacher’s housing through the nonprofit division, Education Housing Partners, Inc. (EHP). EHP provides development services to school districts and other public agencies to promote the creation of high-quality, publicly-owned housing communities for teachers and other public sector employees.
About Thompson | Dorfman Partners
Thompson | Dorfman Partners, LLC is a real estate development and investment firm whose principals have a long history in California’s housing industry. Formed in 1999 by Will Thompson and Bruce Dorfman, Thompson | Dorfman focuses on multi-family residential development, with particular emphasis on well-sited, urban in-fill and mixed-use properties located in high-growth, technology-driven markets in the western U.S.
The principals of Thompson | Dorfman are 30+ year veterans in their industry with a reputation for quality and a track record of performance. Collectively, they have developed over 13,000 multi-family homes in 45 California apartment and condominium communities. They have also expanded their services to provide development advisory, management, and investment expertise to corporate land owners and financial institutions.
In addition, Thompson | Dorfman has created a non-profit entity, Education Housing Partners, Inc., to provide a full complement of development services to school districts and other public agencies to build workforce housing to help recruit and retain quality employees.
While discovering overlooked opportunities and resolving challenging development issues, Thompson | Dorfman continues to deliver luxury in-fill housing that benefits the surrounding community, rewards its investors, and surpasses the expectations of property residents. See www.thompsondorfman.com